Former brokerage worker charged with fraud in Iowa
CEDAR RAPIDS, IA (AP) — A former employee of a Mason City financial brokerage has been charged with wire fraud and identity theft after being accused of embezzling $36,000 from a customer’s account.
A document filed Tuesday in U.S. District Court in Cedar Rapids says that 42-year-old Teresa Dorenkamp fraudulently caused the transfers of funds into her and her husband’s accounts, using the names and forged signatures of others to complete the transactions.
Dorenkamp is expected to appear in court Monday for an arraignment and plea hearing. She faces a mandatory minimum sentence of two years in prison.
Dorenkamp was an office assistant for Edgar Financial Group and was registered to trade securities.
The scheme allegedly lasted from 2007 to 2011, but the charges relate to a single wire transfer in 2011.